Highlights of the first look at US third quarter GDP. Oct 28, 2016
– Best quarter since Q3 2013
– Q2 was at 1.4%
– vs 2.6% exp. Prior 4.3%
– PCE 1.5% vs 1.4% exp.
That exports number is a big outlier that could have skewed the numbers. There is talk that soybean exports threw off the trend and that might have been priced in but it added 0.83 percentage points to growth. The inventory data is hotter than expected as well so this number really isn’t as good as it looks.
